(Adds details, quotes)
SANTIAGO, May 12 (Reuters) - Chile's central bank kept
its benchmark interest rate unchanged at 11.25% on Friday, in a
unanimous vote by its board members, until inflation converges
to the bank's 2% to 4% target range.
"The board considers it appropriate to maintain the
monetary policy rate at 11.25% until the state of the
macro-economy indicates that the process of inflation
convergence to the 3% target has been consolidated," the bank
said in a post-meeting statement.
Consumer prices in the copper-exporting nation
fell in April to its lowest rate in more than a year
, bringing 12-month headline inflation to 9.9%, down from
11.1% in March.
The central bank pointed out that most measures of
two-year inflation expectations continue above 3% and reaffirmed
its commitment to act with "flexibility" in the event that any
of the internal or external risks materialize.
(Reporting by Natalia Ramos and Carolina Pulice; Editing by
Anthony Esposito)
